Cumberland Partners Ltd Makes New $2.55 Million Investment in Novo Nordisk A/S (NYSE:NVO)

Cumberland Partners Ltd purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,679 shares of the company’s stock, valued at approximately $2,553,000.

Other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Center for Financial Planning Inc. boosted its position in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the period. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $42,000. Dunhill Financial LLC grew its holdings in shares of Novo Nordisk A/S by 196.8% in the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock worth $56,000 after purchasing an additional 311 shares during the last quarter. Finally, Albion Financial Group UT grew its holdings in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 1.3 %

Shares of NYSE:NVO opened at $83.38 on Thursday. The firm has a market capitalization of $374.18 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 0.84 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $77.82 and a 1 year high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The business has a 50 day simple moving average of $86.89 and a two-hundred day simple moving average of $108.66.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 21.88%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.